MADLEN: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MADLEN
Largest movements
- Receivables within one year +€6,439
up €6,439 (+388.3%), from €1,658 to €8,097
- Cash -€215
down €215 (-64.8%), from €332 to €117
mainly Net result for the year (-€14,631) and Receivables within one year (-€6,439)
- Profit (loss) carried forward -€14,631
down €14,631 (-69.8%), from -€20,976 to -€35,606
- Other debts +€14,478
new in 2025: €14,478
- Trade debts +€5,941
up €5,941 (+562.0%), from €1,057 to €6,999
- Tax, wage and social debts +€435
up €435 (+13.0%), from €3,358 to €3,793
of which Remuneration and social security: +€452
- Gross operating margin -€4,240
down €4,240 (-28.4%), from €14,948 to €10,708
- Financial charges +€1,711
up €1,711 (+777.5%), from €220 to €1,931
- Staff costs +€1,528
up €1,528 (+7.2%), from €21,162 to €22,689
- Other operating charges +€718
new in 2025: €718
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,040 | €8,263 | +€6,224 | +305.1% |
| Fixed assets | 21/28 | €50 | €50 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,990 | €8,213 | +€6,224 | +312.8% |
| Amounts receivable within one year | 40/41 | €1,658 | €8,097 | +€6,439 | +388.3% |
| Trade receivables | 40 | €1,658 | €8,097 | +€6,439 | +388.3% |
| Cash at bank and in hand | 54/58 | €332 | €117 | -€215 | -64.8% |
| Total equity and liabilities | 10/49 | €2,040 | €8,263 | +€6,224 | +305.1% |
| Equity | 10/15 | -€2,376 | -€17,006 | -€14,631 | -615.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,976 | -€35,606 | -€14,631 | -69.8% |
| Amounts payable | 17/49 | €4,415 | €25,270 | +€20,854 | +472.3% |
| Amounts payable within one year | 42/48 | €4,415 | €25,270 | +€20,854 | +472.3% |
| Trade debts | 44 | €1,057 | €6,999 | +€5,941 | +562.0% |
| Suppliers | 440/4 | €1,057 | €6,999 | +€5,941 | +562.0% |
| Taxes, remuneration and social security | 45 | €3,358 | €3,793 | +€435 | +13.0% |
| Taxes | 450/3 | €1,727 | €1,710 | -€17 | -1.0% |
| Remuneration and social security | 454/9 | €1,631 | €2,083 | +€452 | +27.7% |
| Other amounts payable | 47/48 | - | €14,478 | +€14,478 | |
| Non-recurring operating income | 76A | - | €18 | +€18 | |
| Remuneration, social security and pensions | 62 | €21,162 | €22,689 | +€1,528 | +7.2% |
| Other operating charges | 640/8 | - | €718 | +€718 | |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Gross operating margin | 9900 | €14,948 | €10,708 | -€4,240 | -28.4% |
| Operating profit (loss) | 9901 | -€6,214 | -€12,699 | -€6,486 | -104.4% |
| Financial charges | 65/66B | €220 | €1,931 | +€1,711 | +777.5% |
| Recurring financial charges | 65 | €220 | €1,931 | +€1,711 | +777.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,434 | -€14,631 | -€8,197 | -127.4% |
| Profit (loss) for the period | 9904 | -€6,434 | -€14,631 | -€8,197 | -127.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,434 | -€14,631 | -€8,197 | -127.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.